2002 (8) TMI 484 - AT - Central Excise

Summary

The dispute involved eligibility of "Precicon Controller for HVR" and "Escort JCB 3DS Front end Loader" as Modvat capital goods. Appellant withdrew appeal for "Escort JCB" and reversed credit. "Precicon Controller" not specified under rule 57Q, credit not available. Penalty set aside due to genuine belief in eligibility, appeal otherwise rejected.